Real Estate Trends – Amherst, New Hampshire

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward

Today we are highlighting Amherst, NH in Hillsborough County

 Amherst NH Town Common - Amherst New Hampshire Real Estate

Market Trends in Amherst, NH – June 2014 and 2015:

The housing market in Amherst, NH appears to be down quite a bit since last year.  Both the average listing and average sales prices were down significantly.  The days on market were up a little bit as well.  Inventory was up significantly with 19 sales in June 2014 and 31 in June 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Amherst, NH the average listing price in June 2014 was $413,116.  This was down to $365,436 in June 2015.  That gives a very significant 11.54% decrease year over year. 

We always look at the medians for all our NH reports since, unlike the MA MLS, these numbers are given to us.  The medians have appeared to be farther off from the averages recently and have been calculating them on many of our reports anyway.  In this case the median list price for Amherst, NH in June 2014 was $395,000 and in June 2015 it was $354,900 for a slightly smaller 10.15% decrease. 

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Amherst, NH in June of 2014 was $413,984 and in June 2015 that was down to $359,016.  That gives a somewhat larger decrease of 13.28%. 

We will want to also examine the median sale prices too.  If we look at the median sale price for Amherst, NH for June 2014 was $389,500 and in June 2015 it was $351,000 to give a 9.88% decrease, which is a bit less than the average and also a tiny bit smaller than the drop in median list price. 

The prices for the Amherst, NH real estate market was down pretty significantly since last by any method we use to determine that.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market.  For Amherst, NH the average days on market in June of 2014 were 40.68 and the average days on market for June 2015 were 44.16, for a fairly trivial 8.55% increase. 

Amherst, New Hampshire Summary:

The Amherst, New Hampshire real estate market looks like is has declined a good amount since last year.  The double digit drops in both the listing and sale prices show this pretty clearly.  The small increase in the days on market also supports this, though that is much less pronounced.

In summary if you are looking to sell a house in Amherst, NH now you should expect to get a good bit less than you would have expected to get last year.  You should also expect to take about the same amount of time or slightly longer to sell than it would have last year.  

 

Do you need to sell your Amherst, New Hampshire house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Amherst NH Common 2006 by Smuttynoser via Wikipedia)

 

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